A Debit Memorandum Is

question 25

Multiple Choice

A debit memorandum is:

• A)Required whenever a journal entry is recorded.
• B)The source document for the purchase of merchandise inventory.
• C)Required when a purchase discount is granted.
• D)The document a buyer issues to inform the seller of a debit made to the seller's account payable in the buyer's records.
• E)Not necessary in a perpetual inventory system.

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